Concentra Group Holdings Parent, Inc. $CON Shares Bought by HBK Investments L P

HBK Investments L P grew its stake in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 21.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,044,614 shares of the company’s stock after purchasing an additional 181,864 shares during the period. HBK Investments L P’s holdings in Concentra Group Holdings Parent were worth $31,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Concentra Group Holdings Parent by 70.3% during the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the company’s stock valued at $30,000 after purchasing an additional 417 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Concentra Group Holdings Parent in the 2nd quarter valued at $38,000. Nykredit A S purchased a new stake in Concentra Group Holdings Parent during the second quarter worth $60,000. Public Employees Retirement System of Ohio purchased a new stake in Concentra Group Holdings Parent during the second quarter worth $64,000. Finally, Covestor Ltd boosted its holdings in Concentra Group Holdings Parent by 33.8% during the fourth quarter. Covestor Ltd now owns 7,180 shares of the company’s stock worth $141,000 after buying an additional 1,815 shares in the last quarter.

Concentra Group Holdings Parent Price Performance

Shares of NYSE:CON traded up $0.75 during midday trading on Wednesday, reaching $36.37. 1,092,574 shares of the company’s stock traded hands, compared to its average volume of 894,727. The company has a fifty day simple moving average of $33.21 and a two-hundred day simple moving average of $27.67. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $36.71. The company has a market cap of $4.64 billion, a P/E ratio of 23.47, a PEG ratio of 1.30 and a beta of 0.63. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $606.03 million during the quarter, compared to analyst estimates of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. Equities analysts predict that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were given a $0.0625 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.7%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is 16.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on CON shares. JPMorgan Chase & Co. lifted their price objective on shares of Concentra Group Holdings Parent from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an “outperform” rating for the company. Zacks Research raised shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Wells Fargo & Company raised their target price on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada upped their price target on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat, Concentra Group Holdings Parent currently has a consensus rating of “Buy” and an average price target of $39.40.

Insider Activity

In other news, Director Robert Ortenzio sold 130,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the completion of the sale, the director owned 503,455 shares of the company’s stock, valued at $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by company insiders.

Concentra Group Holdings Parent Profile

Concentra Group Holdings Parent, Inc is a U.S. health care company that operates one of the country’s largest networks of occupational health centers. Through its Concentra brand, the company provides medical services to employers and employees, with an emphasis on workplace injury care, occupational medicine and convenient access to non-emergency treatment.

Its services include treatment for work-related injuries and illnesses, physical examinations, drug and alcohol screening, workers’ compensation care, vaccinations, health and wellness programs, and regulatory examinations such as Department of Transportation physicals.